Chase Investment Counsel Corp Has $993,000 Holdings in Black Stone Minerals, L.P. $BSM

Chase Investment Counsel Corp grew its stake in Black Stone Minerals, L.P. (NYSE:BSM) by 116.5% during the third quarter, HoldingsChannel reports. The firm owned 75,577 shares of the oil and gas producer’s stock after buying an additional 40,663 shares during the quarter. Chase Investment Counsel Corp’s holdings in Black Stone Minerals were worth $993,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. lifted its stake in Black Stone Minerals by 71.7% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,981 shares of the oil and gas producer’s stock valued at $39,000 after purchasing an additional 1,245 shares during the last quarter. Motco acquired a new position in shares of Black Stone Minerals during the second quarter worth $46,000. Tower Research Capital LLC TRC increased its holdings in shares of Black Stone Minerals by 7,822.8% during the second quarter. Tower Research Capital LLC TRC now owns 7,289 shares of the oil and gas producer’s stock worth $95,000 after buying an additional 7,197 shares in the last quarter. Stratos Wealth Partners LTD. bought a new position in shares of Black Stone Minerals in the 2nd quarter valued at $132,000. Finally, Astoria Portfolio Advisors LLC. acquired a new stake in shares of Black Stone Minerals during the 3rd quarter valued at $135,000. 14.49% of the stock is currently owned by institutional investors and hedge funds.

Black Stone Minerals Price Performance

Shares of BSM opened at $14.87 on Tuesday. The business has a 50-day moving average of $14.28 and a 200-day moving average of $13.51. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.37 and a quick ratio of 4.37. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of 12.93 and a beta of 0.18. Black Stone Minerals, L.P. has a 1 year low of $11.78 and a 1 year high of $15.52.

Black Stone Minerals (NYSE:BSM) last released its earnings results on Monday, February 23rd. The oil and gas producer reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. Black Stone Minerals had a net margin of 61.31% and a return on equity of 40.08%. The business had revenue of $118.70 million during the quarter, compared to the consensus estimate of $98.08 million. As a group, equities research analysts anticipate that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current year.

Black Stone Minerals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 18th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, February 18th. This represents a $1.20 annualized dividend and a dividend yield of 8.1%. Black Stone Minerals’s dividend payout ratio is 104.35%.

Analysts Set New Price Targets

BSM has been the subject of several research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Black Stone Minerals in a research report on Monday, December 29th. Zacks Research downgraded Black Stone Minerals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Black Stone Minerals in a report on Tuesday, November 4th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Black Stone Minerals has a consensus rating of “Hold” and an average target price of $13.00.

Black Stone Minerals Company Profile

Black Stone Minerals L.P. (NYSE: BSM) is a publicly traded limited partnership that acquires and manages oil and natural gas mineral interests and producing royalty interests across the United States. The company’s business model centers on holding fractional ownership in subsurface mineral estates, which allows it to earn royalty income from hydrocarbon production without taking on the capital expenditures or operating risks associated with exploration and development.

Founded in 1876 and headquartered in Houston, Texas, Black Stone Minerals has built a diversified portfolio spanning key U.S.